British Pound / US Dollar-GBPUSD As of 20/06/17
*** Intra-Daily Trading Strategy:SELL British Pound / US Dollar
Sell Target: 1.2571
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
A big bearish black candle has formed. Prices closed considerably lower than open. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area, a moving average, trend line, or price resistance level, the long black candle adds credibility to the resistance. Likewise, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 29 white candles versus 21 black candles with a net of 8 white candles.
MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 29 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased2.29%, and has been fluctuating from a high of 1.305 to a low of 1.260.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy14 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 36 day(s) ago.
The RSI has just reached its lowest value in the last 14 day(s). This is BEARISHsignal.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a SELL8 day(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell7 day(s) ago.
The close is currently
BELOW its 200 daily moving average
BELOW its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bearish
British Pound / US Dollar closed above the lower Bollinger Band by 0.5%. Bollinger Bands are 25.62% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.